Harnessing Ukraine's gas production capabilities — a new consideration for European energy security

25 October 2016, 1 - 4 PM CET TUSIAD Avenue des Gaulois 13, Brussels 1040 When it comes to Ukraine's energy security, only the most seasoned industry experts tend to think of the country's indigenous gas production. The debates revolve around Ukraine's gas supply relationship with Russia, and whether the country's role as the key transit state for Russian gas to the EU will remain in place. Transit, in fact, has become a byword for Europe's energy security, turning the economics of the European gas supply into a bigger geopolitical issue of gas pipelines, transit avoidance and ultimately Ukraine's political destiny, as it vibrates turbulently between east and west. That said, those specialists and industry insiders that tend to look at Ukraine's energy security in more strategic terms, now argue that Kyiv's best bet to lift itself above the vulnerability of its transit role for Russian gas is to focus on domestic production. It is well known in the industry that Ukraine has substantial gas production potential — sufficient not only to satisfy its avaricious domestic appetite, but also to export surplus to the EU. The prospect of Ukraine becoming "energy independent" in terms of satisfying its own gas demand requirements is a potential game-breaker Kyiv's for European energy security. This is not merely due to the fact that Ukraine would no longer need to import gas from Russia — thus becoming immune to Gazprom's twists and turns — but also since Russia may no longer be running its molecules to Europe through Ukraine by that time. An odd situation may result where Russian gas exports to Europe via Nord Stream could find themselves competing with Ukrainian gas exports. The result: enhanced gas price competition, good news for European gas consumers and a total redrawing of the map of present-day European gas supply security. In order to discuss and debate as to whether Ukraine can, and should, try to realise its gas production potential, we invited Philip Vorobyev to address the Brussels Energy Club on October 25.  While Brussels is likely to push for the status quo prevailing in the current Russia-Ukraine-EU gas triangle, we know from our readings of the EGF Gazprom Monitor that the geographical flow of Russian gas to Europe is already changing. This BREC meeting showed how the prospect of Ukrainian gas production will deepen these structural changes in the European gas market even further. Program : Arrival of members and guests leading into light luncheon reception Welcoming remarks by Dr Bahadir Kaleagasi, Chairman, Brussels Energy Club Setting out the debate by Dr Marat Terterov, Brussels Energy Club Presentation by Philip Vorobyev, Head of Strategy and Communications, JKX Oil and Gas Roundtable discussion with members and guests of the Brussels Energy Club (NB: the Chatham House Rule will apply). Networking opportunities with the speaker and Club members will follow the interactive discussions Presentation: Speakers: Philip Vorobyov Head of Strategy and Communications, JKX Oil & Gas, London Moderator: Dr. Marat Terterov Galery: